Armani Not Renewing with Safilo & Reportedly Signed with Luxottica

Armani will not renew its licensing agreement with Safilo beyond the end of 2012. Safilo’s sales through the Armani Group’s licenses were approximately Euro 165 million in 2010 and Euro 125 million in the first nine months of 2011. In light of the non-renewal and based on the current portfolio of brands, the Group's medium-term financial targets, communicated on September 29, would be lower by approximately Euro 150-200 million at the net sale level in 2015, while the EBITDA margin would reach 13.5% instead of 15%. Read more.  A little while ago, the blog reported that Luxottica was courting Armani. According to some industry reports, Armani has already signed a letter of intent with Luxottica.